Indeed, compounding your money for 40 years might not be the best option but on paper, This looks good, it’s guarantees a good future for those people who are doing a job that is not paying well. So people like this believe that putting aside part of their money for 40 years will guarantee a good future for them, at least at the end of their life they will become a million  but most financial gurus that talk about things like this don’t always talk about some of the things that come with it.
One thing I will talk about is inflation because in 40 years your $1 million will be equivalent to $500,000 of money you have now or will be even less. Years after years, your money will go down in value and your purchasing power will reduce, in 40 years your $1 million won’t be able to buy what $1 million can buy now which may not sound like a big deal, but when you think about trading your fun, your life just to enjoy at the end of your life and you are getting less for the value of your money it is crazy.
Another thing people don’t also talk about is where the percentage of that money will be coming from. Most people talk about 15 to 20% all the time, they make it sound as if it’s easy but most major financial institutions don’t give 20 to 15%, you can only get that from a stock or crypto, and those two things can go up or go down. You can lose 50% of your assets in a single day.  Most of these things people don’t talk about them and They just give us a vision and they want us to believe in it. If you’re buying different stock, you have to be very smart with it and there is a chance that you’re going to lose money.
At least you are atable
Apart from those reasons, there is a chance that you will be frugal with your money and you will trade your youth, fun, and the best part of your life just to have money at the end of your days. This is why most people have been so critical of this approach of having money that doesn’t give room for you to enjoy your life. It may seem like there are no risks involved, but the truth is, there are a lot of risks involved in this approach.
My own thing is that if you are lucky and you can get it right, one thing that this provides is stability in the process, you don’t want to get old and be begging for money or be homeless or depend on your children for support. At least it’s guaranteed stability at the end of your life and you may not even wait for your money too much but you can start taking care of yourself. When you have enough to take care of yourself for the rest of your life you can start taking care of yourself and enjoy your money before it is too late.
Thanks for your time.